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Elevation Capital-backed fintech Skydo plans new funding round

VCCircle

VCCircle · 6m ago

Elevation Capital-backed fintech Skydo plans new funding round

Fintech startup Skydo, backed by Elevation Capital, is preparing to raise a new funding round to enhance its growth. The company is advancing towards offering a cross-border payments service, with significant progress highlighted by a top executive. Based in Bengaluru, Skydo recently achieved a milestone by securing necessary permissions from the Reserve Bank of India, aligning with its strategic development goals. This funding will support its expansion and service enhancement efforts.

Related News

Payments startup Skydo secures $5 million in funding from Elevation Capital, others

Economic Times

Economic Times · 12m ago

Payments startup Skydo secures $5 million in funding from Elevation Capital, others

Cross-border payment startup Skydo has secured $5 million in an equity funding round led by Elevation Capital, with participation from angel investors. This follows the company's previous $5 million raise from Elevation Capital in 2022. Skydo currently assists small businesses and freelancers in accepting payments from outside of India but aims to expand its services to include domestic merchant payment solutions. With the funding, Skydo plans to increase its total payment volume and become a key player in the international payments market in India.

Sykdo Bags $5 Mn To Streamline Cross-Border Online Payments For Small Businesses

Inc42 · 12m ago

Sykdo Bags $5 Mn To Streamline Cross-Border Online Payments For Small Businesses

Skydo, a payment technology company, has raised an undisclosed amount in a funding round led by Elevation Capital. The round also saw participation from several angel investors. This marks the second equity investment for Skydo, following a $5 million raise in its first institutional round from Elevation Capital in 2022. The funding comes as the company awaits a payment aggregator cross-border license from the Reserve Bank of India (RBI).

How Skydo Is Disrupting Indian B2B Cross-Border Payments

Inc42 · 1y ago

How Skydo Is Disrupting Indian B2B Cross-Border Payments

Indian startup Skydo aims to streamline cross-border online transactions for small businesses. It allows Indian businesses to open international accounts with minimal KYC and KYB documentation, enabling them to make payments to vendors across geographies easily. Currently, Skydo works with 1,500 businesses and processes payments of $50 million annually. The startup, backed by investors Elevation Capital, Better Capital, and Eximius Ventures, has raised over $5.2 million and aims to reach a transaction volume of $750 million by March 2025. Skydo competes with other cross-border payment providers such as XFlow, PayGlocal, Winvesta, and Salt.

SarvaGram In Talks With Peak XV, Apis Partners & Others To Raise $50 Mn Funding

Inc42 · 11m ago

SarvaGram In Talks With Peak XV, Apis Partners & Others To Raise $50 Mn Funding

SarvaGram, an Indian fintech startup, is currently in talks to raise a new funding round with a projected valuation of $170 million to $200 million. The round is expected to be led by venture capital firms Peak XV, Apis Partners, Beams Fintech Fund, and Creation Investments Capital Management LLC. In the previous year, SarvaGram successfully raised $35 million in a Series C funding round with participation from Elevar Equity, Elevation Capital, Temasek, and TVS Capital Funds.

Travel fintech Scapia raises $23 million in round led by Elevation Capital, Binny Bansal’s Three State Ventures, others

Economic Times

Economic Times · 1y ago

Travel fintech Scapia raises $23 million in round led by Elevation Capital, Binny Bansal’s Three State Ventures, others

Travel fintech Scapia has raised $23 million in a funding round led by Elevation Capital and Three State Ventures. The startup aims to provide financing options for the travel industry, including travel agencies and hotels. With this new funding, Scapia plans to expand its operations and further develop its technology platform to cater to the evolving needs of the travel sector.

Elevation Capital says fintech companies building tailored products are finding takers

Economic Times

Economic Times · 1y ago

Elevation Capital says fintech companies building tailored products are finding takers

Despite the challenges posed by regulatory actions and the need to navigate through complex partnerships with traditional banks, fintech firms can use these obstacles as an opportunity to build scalable platforms in the long term, according to senior partners at Elevation Capital. Although regulatory clarity might increase governance costs and prolong the process, it provides a runway for fintech startups to expand their operations. The partners also highlighted the emergence of niche-focused fintech companies that offer tailored financial products and services to specific user segments, with the potential for significant growth and dominance in their respective markets. Examples such as Skydo and Jodo were cited as successful examples within Elevation Capital's portfolio.

Turno, four others secure early-stage funding

VCCircle

VCCircle · 1y ago

Turno, four others secure early-stage funding

Indian startups Turno, Vegapay, Fyllo, Gramiyaa, and TechEagle have all raised early-stage funding. Commercial electric vehicle startup Turno secured $6 million in an extended Series A funding round, while fintech startup Vegapay raised $5.5 million in a seed funding round led by Elevation Capital. Agritech startup Fyllo received $4 million in funding, cold-pressed oil maker Gramiyaa raised $1.1 million in equity and debt infusion, and drone logistics startup TechEagle secured an undisclosed amount of funding in a bridge round. Specific plans for the funds were detailed by each startup.

Exclusive: Rupeek In Talks To Raise INR 200 Cr From Elevation Capital, Others

Inc42 · 1y ago

Exclusive: Rupeek In Talks To Raise INR 200 Cr From Elevation Capital, Others

Rupeek, an Indian online gold loan platform, is set to raise $60 million in a funding round led by new investor Elevation Capital. This funding round will value Rupeek at $250 million, significantly lower than its peak valuation of $600 million. Existing investors, including 360 One Large Value Fund and BlackSoil, will also participate in the round. The funds raised will support Rupeek's growth and expansion plans in the online gold loan market.

Prosus invests $80 mn in PremjiInvest-backed fintech firm

VCCircle

VCCircle · 8m ago

Prosus invests $80 mn in PremjiInvest-backed fintech firm

Global technology investor Prosus has invested $79.9 million in Mintifi Pvt. Ltd, a supply-chain financing company backed by PremjiInvest. This investment gives Prosus a 10.65% stake in the Mumbai-based fintech company and values Mintifi at around $750 million. Mintifi provides supply-chain payments, invoicing, and purchase financing solutions to distributors and retailers, and counts Norwest Venture Partners and Elevation Capital as its investors. Prosus' investment comes after Mintifi raised $110 million in a Series D funding round led by PremjiInvest in March 2023.

Sprinto Raises $20 Mn From Accel, Others

Inc42 · 1y ago

Sprinto Raises $20 Mn From Accel, Others

RegTech startup Sprinto has raised $20 million in Series B funding led by Accel. The funding round also included participation from existing investors Elevation Capital and Blume Ventures. Sprinto, founded in 2020, provides enterprises with automation tools for risk and compliance requirements. The company plans to use the funding for research and development, focusing on intelligent automation and artificial intelligence, as well as expanding into new markets.

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